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IFRS 16 CONTRACT LEASES 5

IFRS 16 CONTRACT LEASES

IFRS 16 CONTRACT LEASES 1 IFRS 16 CONTRACT LEASES 2 IFRS 16 CONTRACT LEASES 3 IFRS 16 CONTRACT LEASES 4

In line with our commitment to comply with the IFRS 16 updates, Asad Abbas & Co. (Chartered Accountants) has conducted training for its highly qualified accountants and auditors on the 30th December 2018, just right after the seminar held and conducted by the Chartered Accountants and Auditors in the UAE. The purpose of the seminar was to ensure that the firm is ready for the implementation on the 1st January 2019.

Mr. Asad Abbas, CPA, CFM guarantee all compliance with the regulation and proper implementation will be practiced. Follow and like our social media pages to know more about IFRS updates.

Call us to inquire Dubai T: +971 4 432 9083 Abu Dhabi T: +971 2 6282650 Mob: +971 52 263 9794 marketing@abbasaccounting.ae

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SAVE ON TAXES 6

SAVE ON TAXES

Value Added Tax (VAT) is a tax on consumption levied in the United Arab Emirates by the National Government. It was introduced on January 1, 2018. It is administered and collected by The Federal Tax Authority, primarily through the Federal Decree Law No (8) of 2017 on Value Added Tax. VAT is levied on most goods and services provided by registered businesses in the U.A.E. and some goods and services imported from outside the U.A.E. and G.C.C. Countries.

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PROPER INVOICE INFO 7

PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

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